South Africa’s central bank maintained the benchmark interest rate at 8.25%, in line with expectations post-election. Despite a second month of cooling inflation at 5.2% in April, the bank remains focused on stabilizing inflation within its target range of 3% to 6%. The South African rand weakened significantly following election results, which indicated that the ANC might lose its parliamentary majority for the first time, potentially leading to a coalition with the leftist Economic Freedom Fighters.